What’s New: In Brief (March 14, 2007)

CanAm Special Risk Agency Limited (CanAm Insurance) has acquired the travel insurance book of business from PrimeLink Management Services Inc., Broker Advantage Inc. and the Pentius Group. The travel medical insurance products, marketed under the brand names PrimeLink, Travel Protect and TravelRite, are offered across Canada through well-established channels. The policies are administered by CanAm Insurance; policies sold after Feb. 15, 2007 will be underwritten by The Manufacturers Life Insurance Company. CanAm Insurance will service, offer top up, and provide extensions of coverage to consumers who purchased a policy prior to the acquisition.The addition of PrimeLink complements CanAms offering to all facets of Canadian travelers, said David Rivelis, Vice President of CanAm Insurance. The deal solidifies CanAms position as an industry leader in the management and administration of travel insurance programs.CanAm Insurance is an outsource facility for travel insurance services assisting brokers, insurance companies, national associations and affinity program coordinators in securing business.

RBC Insurance is the winner of the 2006 Large Institution Program of the Year Award, presented by the Bank Insurance and Securities Association (BISA). “RBC Insurance is proud to achieve this recognition, which is a testament to our bank insurance leadership and innovation,” Neil Skelding, the president and CEO of RBC Insurance, said in a press release. “We are focused on providing Canadians with greater choice in terms of where and how they can access insurance products and services, by opening new retail insurance branches, increasing our online and telephone options and offering general insurance advice through bankbranches.”Authorized insurance products, such as mortgage, loan and travel insurance, are offered in over 1,100 RBC bank branches. Due to Canadian Bank Act restrictions, RBC Insurance cannot distribute a full range of insurance products through the RBC bank branch network, RBC Insurance said in its press release. Instead, the company has utilized new distribution channels to offer clients greater access to insurance choices.